Level I

CFA Scoring

Hi,

I was curious to know if any of you have any idea as to what score shoudl we strive to get. I know the more you get, the better it is..

Just was curious in knowing as to around how many quesions in 120 ques is required to be correct.

My score is around 75 right answers in 120. so basicall 62-65% range. I am really tensed as m reviewing my papers as well but still m not exceeding this mark.

ANyone else in this situation and how are you feeling?

Entry into AM/Equity Research - With an Engineering Ph.D

I am a Researcher working in the field of Computational Sciences in academia. I have a Ph.D in Engineering. 36 yrs old with family.

Recently, I have become highly fascinated with financial markets and I am purely attracted to Asset management/Equit research part of the finance and value investing. I am planning to take some online financial accounting courses first, but now feel that CFA would be best for the knowledge.

Last 2 days before Exam Day

Just wondering how everyone is going to prepare for the last 2 days before the exam.   Are you going to focus on Mock Exams, practice questions or just relaxing up a bit before D-Day?

CFA Institute online mock exams

Hello,

I am interested how many times can I use CFA mock exam?

I am sking this question because After doing AM and PM mock exams, I clicked on them again it showed me a new test. 

Warranty Expenses as a DTA

Longboat, Inc. sold a luxury passenger boat from its inventory on December 31 for $2,000,000. It is estimated that Longboat will incur $100,000 in warranty expenses during its 5-year warranty period. Longboat’s tax rate is 30%. To account for the tax implications of the warranty obligation prior to incurring warranty expenses, Longboat should:

A) record a deferred tax asset of $30,000

IFRS Contract - outcome can't be measured reliably

A firm that reports under IFRS is producing under a long-term contract for which it cannot measure the outcome reliably. In the first year of the contract, the firm has spent €300,000 and collected €200,000 in cash. What amounts related to this contract should the firm recognize on its income statement for the year?

The answer says to recognize 300k in revenue, 300k in expenses, and no profit. Why isn’t it 300k in expenses, 200k in revenue, with no profit…?

Practice exam stagnation

I’ve done 9, 120-question Schweser practice exams and scored the following:

65, 63, 67, 62, 68, 68, 67, 64, 67

Average: 65

Calculator Question

How many decimal places should I round to when inputing values/variables into calculator questions? Been doing 2 but I’ve noticed on some of answers, while close to the correct answer, are still far enough off to cause confusion on certain questions- particularily corp. fin. Does the CFAI recommend 3 or 4? Or what do you all find most helpful? TIA

Income tax expense

I have known that the income tax expense is equal to “EBI*(tax rate)” and also “tax payable+ deferred tax changes”.

But, in some practice questions,  ”EBI*(tax rate)” is not equal to  ”tax payable+ deferred tax changes”.

I can’t understand why this difference is created.

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